They sided with the National Prosecuting Authority (NPA) with its application for two forfeiture orders, with the court ruling that Optimum and its export terminal, had been acquired by the Gupta family with proceeds from corruption.

The outcome will save more than 500 jobs through resumption of production at the mine, with NUM calling on the terminal board to immediately restore Optimum’s train allocation to allow for the resumption of coal exports.

Liberty Coal and the NPA approached the court for an order of settlement that would allow the Optimum to retire business rescue and resume coal mining and trading as a going concern.

With the deal, Liberty will pay more than R460 million to the state and assume future responsibility for more than R1 billion owed to various creditors, who largely supported the settlement application.

The order marks the end of a six-year long business rescue battle during which the courts were blatantly abused by the Guptas and their business partners, to delay Optimum’s re-emergence into the domestic and international coal markets.

The order hinges on an agreement with former Gupta business associate, Daniel McGowan’s Templar Capital, which requires Templar to settle creditor debts, as well as footing a R19 million injection to the asset recovery fund.

The deal prevents confiscation of property under the Prevention of Organised Crime Act.

Liberty Coal is a subsidiary of Templar Capital, Optimum’s largest creditor.

Optimum’s woes had a major ripple effect on the economies of Hendrina, Middelburg and eMalahleni, with miners and contractors unable to cover living costs like mortgages, vehicle loans and school fees, resulting in STLM approving a stay in municipal service payments to affected employees when the Guptas fled and the mine collapsed.